MBWealth’s Commodity Blog

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Please click on spreadsheet to view and zoom to 100% Energies For the last six weeks Crude oil has been in a $10 trading range and as of the close last week prices are just about in the middle of that range trading at $76/barrel on the front month. We suggest buying dips near $73-74 [...]

Please click on spreadsheet to view and zoom to 100% Energies Crude oil prices dropped nearly $7/barrel last week and could challenge the lows from late May. We don’t read too much into the sideways action in the last five weeks and instead view it as a trading range. As position traders well know there [...]

Please click on spreadsheet and zoom to 100% Energies Crude reversed direction last week closing near $79/barrel and breaking out of the descending triangle that buoyed prices since the beginning of May. It could be on technical buying as the 20 day MA supported last week though tropical storms heading towards the gulf may also [...]

Please click on spreadsheet to view and zoom in on reader if needed Energies The trend in recent weeks has been up and though we feel that it will continue we’re expecting a $3-5 set back in Crude oil in the immediate future. In the August contract we expect $79 to act as solid resistance, [...]

Please click on spreadsheet to view and zoom to 100% if needed Energies In the last four weeks prices in Crude have been back and forth in a $9 trading range so from here where do we go? We have a bullish bias but would not be recommending new entries, if already long continue to [...]

Please click on spreadsheet to view and zoom to 100% Energies The tide may have shifted in just one session in Crude oil and the distillates last Friday. Prices failed at the 20 day MA and came back all the way to close below the 9 day MA, not to mention a bearish engulfing candle [...]

Please click on spreadsheet to view and adjust zoom on reader Energies Oil gained last week for the first time in four weeks lifting prices back over $74/barrel, closing $7 off its lows. We’ve suggested clients to gain long exposure via August and September call spreads and as long as $72 supports on a closing [...]

Please click on spreadsheet to view and adjust zoom on reader if needed Energies What took 3 months on the upside has been virtually erased in the last 2 weeks as Crude prices have dropped $14 or almost 16%. We are approaching the support from early February and at this juncture we think prices should [...]